With four years remaining in the five year contract, the consortium has now extended the contract by three years and increased deliverable volume by 24% within eighteen months. The supplied metals will be used primarily in the manufacture of electric motors, batteries and charging systems for zero emission vehicles.
Eastern Field International Ltd. won the business originally with its reputation for consistently supplying large volumes on quality rare earth metals on time. The company continues to acquire a growing number of similar contracts with other high-tech manufacturers around the world.
Eastern Field International Ltd. is a company focused on rare earth elements exploration by way of identification and discovery of new rare earths sources and opportunities that can provide long term supply and with the potential for full development of world-class facilities for separation and delivery. The Company has several rare earth projects in multiple locations, the operations of which are enhanced by close relationships with a number of top tier companies in the industry who have the capability of separating the full spectrum of rare earth elements.
This announcement may contain forward-looking statements, as defined by securities laws, including statements regarding financial outlooks and market environments. Any such statements are based on present expectations and involve a number of risks and uncertainties. Important factors, including those mentioned in this item, that could cause real results to differ materially are set forth in the company’s annual report and subsequent statutory filings. They include risks and uncertainties relating to the pace at which the company adds manufacturing capacity and new capital sources, the value of global and regional financial markets, and the dynamics of the markets the company serves.
Eastern Field International Ltd. encourages investors to consult with an investment professional and review filings in conjunction with this publication and prior to making any investment decisions. The forward-looking statements contained in this news release speak only as of the date of its release; the company does not undertake to revise these forward-looking statements to reflect events after the date of this release.